The Over-Quantification Of Life

The idea that all endeavors can be distilled down to statistics has put us in the Over-Quantification Box...

The Inside Story Of How The Saudi King's Son Plotted To Oust His Rival

On the night of June 20, a group of senior princes and security officials gathered at the Safa Palace in Mecca after being informed that King Salman wanted to see them. Before midnight, Mohammed bin Nayef was told he was going to meet the king and was led into another room, where royal court officials pressured him to give up his posts as crown prince and interior minister.

T-Bill Tantrum: Yields Spike As Debt-Ceiling Anxiety Begins To Show

US default risk has flatllined for weeks, market risk has leaked to record lows, and Treasury Bills have 'behaved'... until now. The last two days have seen a sudden aggressive spike in the yields of T-Bills around mid-October, inverting the yirld curve as debt-ceiling anxiety starts to build quietly away from NFLX and AMZN shares.

Which Is Worse? America Or France?

"In France, half the people work hard; the other half try to stop them. But the typical French family is more prudent than its American counterpart. It’s seen governments come and go. The Third Republic fell in 1940. The Fourth Republic fell in 1958. The Fifth Republic will probably fall in the coming financial crisis. French currencies come and go, too."

One Way Or Another – Venezuela Will Send Oil Prices Up

What happens next is unclear. The government and the opposition are heading for a major clash over the July 30 vote to revise the constitution. The opposition fears a dictatorship-in-the-making. But either way the country’s economy is standing at the abyss. There is no way out of the downward economic spiral for Venezuela in the short run without significantly higher oil prices.

Housing Starts, Permits Rebound In June Despite Tumble In HomeBuilder Confidence

After a pitiful drop in May, building permits rebounded galantly in June (+7.4% MoM - the most since Nov 2015) and following three straight monthly declines, housing starts rose 8.3% MoM in June - the biggest jump since Dec 2016. All of which is odd, since the NAHB just printed at 8-month lows with homebuilders citing "lumber costs" as causing them to cut supply?

Frontrunning: July 19

  • Republicans consider bipartisan healthcare talks (Reuters)
  • Health Care Collapse Could Leave Trump Winless in His First Year (BBG)
  • Republicans to Push Ahead on Repeal of Affordable Care Act (WSJ)
  • Obscure Coal CEO Rains Money on Trump While Outflanking Rivals (BBG)
  • GOP Tries to Regroup on Obamacare Repeal as Trump Lashes Out (BBG)